According to the news agency PTI, which obtained the official statement, Karachi, Pakistan’s largest city and economic center, plans to launch its own private airline, Air Karachi.
Sialkot, a center for the export of sports goods and surgical instruments, has successfully established and operated a private airline company, Air Sial.
Sialkot’s business community also funded the construction of a new airport to enhance exports. Since its launch in 2020, Air Sial has expanded its operations to overseas destinations, mainly in West Asia.
Hanif Gohel, former senior vice president of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), asserted Karachi’s role as a financial hub and stressed the need for expansion of domestic and international air services. He said Karachi’s business community could similarly boost its economic activities by setting up and running a private airline.
“The airline has already registered with the Securities and Exchange Commission of Pakistan (SECP),” he said.
“We have submitted all the necessary documents to the government for instructions to issue a license to operate an airline,” he said.
Mr. Hanif Gohar said that the initial investment by the business community in ‘Air Karachi’ amounted to around Rs 8 billion and four key stakeholders were involved. Air Vice Marshal has been appointed as CEO, and shareholders include prominent businessmen such as Aqel Karim Dedi, Arif Habib, and SM Tanveer.
The airline plans to begin operations with three leased aircraft, with the fleet expected to expand over time. “The company is optimistic about securing the operating license for Air Karachi soon,” Gohar added.
Pakistan’s domestic aviation industry currently consists of three private airlines: Seren Air, AirSial, and Air Blue, along with the state-owned Pakistan International Airlines (PIA). The government aims to privatize PIA, but the effort faces challenges. The Privatization Commission last month rejected a solo bid of Rs 10 billion to acquire a 60% stake in the heavily indebted national carrier.
In a report on the performance of domestic airlines for the past six months of 2023, PIA was ranked fourth in terms of punctuality of departures and arrivals.
(With PTI input)
